JA Solar continues to impress, with the solar panel manufacturer posting significant gains in module shipments during Q2.
According to unaudited results published last week, JA Solar’s total shipments of modules and cells reached 1,380.8 megawatts during Q2, with 1,229.3 MW shipped to external customers and the remainder to the company’s downstream projects.
The figures represent growth of 55.5% year over year compared to Q2 2015 and up 18.4% over the previous quarter. Net income for the second quarter was RMB 164.1 million (USD $24.7 million), compared to RMB 136.0 million (USD $20.5 million) in the second quarter of last year.
“Second quarter results were in line with our expectations, with shipments and revenue growing over 50% year-over-year,” said JA Solar Chairman and CEO, Mr. Baofang Jin. “We are also encouraged by our downstream project development achievements as we successfully connected approximately 250 MW of solar projects to the grid in the quarter.”
For the current quarter, JA Solar expects total cell and module shipments to be between 1,200-1,300 MW and for the full year, 5.2 to 5.5 GW. This includes 250 to 300 MW of module shipments to the Company’s downstream projects.
“We are carefully controlling capital expenditures and staffing, and selling effort is focused on more robust markets outside of China,” said Mr. Jin.
“Our project business provides flexibility in our business model, since we can accelerate or slow down activity in order to balance demand for our modules. The JA team remains focused on executing our business strategy to provide our customers with high-quality products in 2016 and beyond.”
2016 has been a particularly busy time for the company and has seen it expand production capability. In May, JA Solar commenced solar panel production at the company’s newest module manufacturing facility in Xingtai, Hebei province, China. Located in Xingtai City, the facility has an annual production capacity of 1.5 GW.
One of JA Solar’s important overseas markets is Australia. The company’s solar panels are efficient, robust, well suited to Australian conditions and are competitively priced. JA Solar panels form the basis of Energy Matters’ Performance range of solar power systems.
